Market Information Wednesday 8 January 2025

Eurozone inflation rose to 2.4% in December from November’s 2.2% due to higher energy prices and persistently elevated service costs, Eurostat reported yesterday. However, inflation is expected to decline, with the European Central Bank’s target anticipated to be reached in the latter half of the year.

In December, the US services sector showed stronger growth than initially predicted, according to the Institute for Supply Management. The purchasing managers’ index rose from 52.1 in November to 54.1 last month. Economists had anticipated an increase to 53.4 for December.

In December, Swiss inflation decreased further, stimulating speculation for additional interest rate reductions by the Swiss National Bank this year. The Federal Statistics Office reported a 0.6% rise in prices compared to the previous year, down from November’s 0.7%.

The 6M Euribor increased with 4 basis points to 2.59% compared to previous business day. The 10Y Swap increased with 3 basis points to 2.47% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.